Digital Financial News

Venture capital investments in crypto companies hit its lowest level for the year in the third quarter, but still remains well above a 7-year average for the industry.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

The annual rate of consumer-price inflation in the eurozone increased to double digits in October, reaching a record and highlighting the challenges facing the European Central Bank after it signaled a coming slowdown in the pace of its rate increases.

It is now moving into crypto with the MaxxDigital offering, which promises the ability to price, trade and distribute any cash or tradable tokenised digital assets. The platform incorporates OTC and FX execution features for digital asset trading, as well as streaming, Request for Stream and Request for Quote workflows.Manish Kedia, CEO, MaxxTrader, says: "There is currently a large gap in the digital assets trading market for a robust, functionality-rich trading solution and we believe that MaxxDigital can fill this critical gap."Jacky Tai, MD, group head, trading and structuring, treasury and markets, DBS, adds: "Partnering with MaxxTrader and leveraging their expertise enhances our digital asset trading offering and trading hours even over weekends without having to commit to additional backend resources."Separately, DBS has formed a partnership with Open Government Products (OGP) to launch a live pilot where purpose-bound money-based vouchers (PBM vouchers) are issued using tokenised SGD to facilitate “real-world” live transactions with selected merchants.

It is now moving into crypto with the MaxxDigital offering, which promises the ability to price, trade and distribute any cash or tradable tokenised digital assets.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Tech giant Google is increasing its exposure to digital assets and blockchain through the kicking off of a new solution, Blockchain Node Engine. In a statement, the company calls the solution “a fully managed node-hosting for web3 development” that will allow developers build and deploy new products on various blockchain-based platforms.

According to the Portugal Fintech Association's annual report for 2022, fintechs have raised an aggregate of €1.08bn to date. 

Crypto industry disappointed as Australia looks to enshrine tax rules

Fidelity Digital Assets released its annual study on institutional investment in digital assets on Oct. 27. Digital asset fundamentals remain strong despite headwinds, the study concludes, but adoption remains highly uneven among different types of investors. 

The Central Bank of the United Arab Emirates (CBUAE) has announced it has finalized mBridge, the world's largest pilot of central bank digital currency (CBDC) transactions in cooperation with the Digital Currency Institute of the People's Bank of China, its Chinese counterpart. Other partners included the Hong Kong Monetary Authority, the Bank of Thailand, and the Bank for International Settlements, the institution said in a statement. 

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Another collection of NFTs, dubbed Common NFTs, was just released by Tamadoge. OpenSea, a leading NFT marketplace, hosts the digital collectible.

Battle Infinity appears to be attracting several investors. This follows a tweet by crypto aggregator CoinGecko, which shows the project’s token, IBAT, amongst the trending coins investors are presently purchasing.

Web3 is gaining momentum as an innovative wave for many businesses, brands, and individuals. This wave has increased the adoption of the Metaverse through different applications and virtual possibilities.

Instead it is proposing stringent new requirements on providers of Digital Payment Token (DPT) services deisgned to discourage casual use of cryptocurrency trading by consumers. These include mandatory testing of customers to guage prior knowledge of crypto risks; a ban on retail users from borrowing or accepting credit card payments to purchase crypto; and the prohibition of crypto-related incentives, such as free tokens, gifts, or celebrity endorsements.Firms will also be mandated to separate customer assets from their own assets, introduce clear risk management controls, and disclose the policies and procedures for selection and listing of tokens.While the proposals are likely to dampen speculative growth in crypto trading, the central bank has taken a more nuanced approach to the use of stablecoins as a medium of exchange.In a bid to lend credibility to tthe emerging asset class, the current regulatory framework, which primarily addresses money laundering and terrorism financing risks, and technology and cyber risks, will be expanded to ensure that regulated stablecoins have a high degree of value stability.Non-bank issuers of stablecoins wil also be required to hold liquid assets which are valued at higher of 50% of annual operating expenses to achieve recovery or an orderly wind-down.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Trading volumes in crypto-backed investment funds have dwindled in recent weeks, and last week hit its lowest since October 2020, a new report from the crypto researcher CoinShares shows.

Cardano continues to dominate headlines due to upgrades on its blockchain or its developer’s social media antics. However, can its native token, ADA, become the most valuable in the market? 

In a bid to expand the Israeli economy’s exposure to cryptocurrencies, the Tel-Aviv Stock Exchange (TASE) has released its new strategic plan for the years 2023-2027 which foresees the creation of a new platform for digital assets. 

The Japanese credit card giant JCB is set to begin a central bank digital currency (CBDC) pilot that will intentionally make use of technology similar to that used by the central Bank of Japan in its own digital yen experiments.